Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Mirae Asset Global Investments Co. Ltd. lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 16.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,173 shares of the real estate investment trust's stock after purchasing an additional 20,127 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Prologis were worth $15,173,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PLD. Money Concepts Capital Corp grew its position in Prologis by 10.4% during the first quarter. Money Concepts Capital Corp now owns 7,296 shares of the real estate investment trust's stock valued at $816,000 after acquiring an additional 685 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new position in shares of Prologis during the 1st quarter valued at $231,000. Hunter Perkins Capital Management LLC bought a new position in shares of Prologis during the 1st quarter valued at $1,889,000. Transcend Capital Advisors LLC raised its position in Prologis by 4.9% in the 1st quarter. Transcend Capital Advisors LLC now owns 7,573 shares of the real estate investment trust's stock worth $847,000 after purchasing an additional 352 shares during the period. Finally, Trust Co. of Vermont raised its position in Prologis by 38.2% in the 1st quarter. Trust Co. of Vermont now owns 40,230 shares of the real estate investment trust's stock worth $4,497,000 after purchasing an additional 11,111 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

PLD stock opened at $105.58 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The firm has a 50-day moving average of $106.21 and a 200 day moving average of $109.47. The company has a market cap of $97.97 billion, a P/E ratio of 26.39, a PEG ratio of 2.68 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. On average, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.83%. Prologis's dividend payout ratio (DPR) is 101.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLD. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Mizuho dropped their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Morgan Stanley decreased their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Barclays lowered their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, CJS Securities cut their target price on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.

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